WEC Energy Group (NYSE:WEC) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of WEC Energy Group (NYSE:WEC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also recently issued reports on WEC. Barclays increased their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.13.

WEC Energy Group Price Performance

NYSE:WEC opened at $105.45 on Friday. WEC Energy Group has a one year low of $77.47 and a one year high of $111.00. The stock has a market cap of $33.65 billion, a P/E ratio of 20.56, a PEG ratio of 2.86 and a beta of 0.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. The company has a fifty day moving average price of $106.68 and a 200 day moving average price of $103.06.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the company posted $1.97 EPS. The business’s revenue was up 17.5% on a year-over-year basis. Analysts anticipate that WEC Energy Group will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a $0.8975 dividend. This represents a $3.59 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, May 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.59%.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Truvestments Capital LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares during the period. Nova Wealth Management Inc. acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $26,000. Prudent Man Investment Management Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $28,000. Finally, Hughes Financial Services LLC acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $28,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.